Connect with us

Business

Coronavirus: Stock Markets Rebound Despite Latest Evidence of Economic Impact | Economic news

Published

on


Stock markets have rallied despite the latest evidence of the catastrophic impact of the coronavirus on the global economy – while central banks have intervened with more help.

The London FTSE 100 closed 165 points, or almost 3%, up while on Wall Street the S&P 500 closed up 1.4%.

For the FTSE, it was the best week since 2009, with an 8% recovery over the four days preceding the Easter weekend, while for the S&P, it was the best since 1974, up 12 %.



Image preview







A worse financial crash than in 2008?

It was despite the numbers showing one in ten American workers filed for unemployment benefits in the past three weeks – and the IMF’s warning of the worst global recession since the 1930s due to the pandemic.

Instead, investors focused on a $ 2.3 billion program announced by the US Federal Reserve to offer struggling businesses and local governments four-year loans.

In Great Britain, the Bank of England accepted to allow the Treasury a larger overdraft to ensure that it has enough cash to cope with the devastating impact of the closure of the coronavirus.

This impact became clearer when government figures showed that 1.2 million people had applied for universal credit in the past three weeks – while a forecast suggested that UK GDP could decline by up to 25% in the last three weeks. second trimester.

Oil markets were also at the center of concern as producer countries struck a deal to cut production in response to a sharp drop in demand – after a protracted feud between Saudi Arabia and Russia had suspended a deal.

This helped raise the price of Brent crude up to 10% before giving up on gains for fear the deal would not go far enough.

In Washington, the head of the International Monetary Fund said the pandemic of coronavirus sweeping the world would make global economic growth “strongly negative” in 2020, triggering the worst fallout since the Great Depression – and only a partial recovery in 2021.

IMF Managing Director Kristalina Georgieva noted that if governments had already taken $ 8 billion in fiscal stimulus, more would probably be needed.

Fears about the economic impact of the crisis ravaged the value of global stocks, causing Wall Street stocks to drop by about a third from mid-February to the end of March.

In recent weeks, aid pledges from central banks and governments around the world have started to cheer up, pushing the market up more than 20%.

Some investors have even started to consider lifting the blockages and hope that the number of cases may peak in many of the most affected regions of the world.

However, many remain skeptical given the lingering uncertainty.

Quincy Krosby, chief market strategist at Prudential Financial, said: “You usually have very strong rebounds, even in a bear market.

“The question is whether or not we see selling in this rebound, or can we continue to profit from it?”

Michael Hewson, analyst at CMC Markets, said: “All of these additional incentives have helped to overshadow the fact that the current foreclosure measures are unlikely to be lifted in the short term.”



picture credit

MOSHED-2020-5-30-19-56-37

to request modification Contact us at Here or [email protected]

Business

Uber and Lyft suspend services in cities across the country due to protests

Published

on


  • Uber and Lyft have said they will suspend routes and deliveries in cities where curfews are in place.
  • Over the weekend, Uber temporarily closed its doors in parts of California and Minnesota.
  • New York, Los Angeles, Washington D.C. and others declared a curfew on Monday evening.
  • The commendable scooters have also become a mainstay of the protests. Lime and Bird say they are removing vehicles from certain cities at the request of local officials.
  • Visit the Business Insider home page for more stories.

Uber and Lyft said they are suspending transportation and delivery services in cities where curfews are imposed to discourage new protests like the ones that rocked the country last week.

In recent days, Uber has temporarily suspended trips and deliveries to Minneapolis, San Francisco, Oakland and Los Angeles.

“Our field teams work closely with each city to best support them based on their needs and the local situation,” an Uber spokesperson told Business Insider in a statement. “Some cities have asked to completely suspend operations while others want to make sure Uber is available for essential services. We also use the Uber app to notify drivers and drivers of city curfews and remind them that Uber should only be used for emergency purposes during this time. “

A Lyft spokesperson said the company “follows the direction of local government across the platform”, but declined to comment on future plans for its bike-sharing subsidiary, which operates in cities like New York. , Chicago, Washington DC and Minneapolis.

Micromobility – commendable bikes and scooters in cities across the country – has also become a pillar of protests.

Sunday, Capital Bikeshare, property of Lyft suspended service without warning as protesters converged near the White House. In Portland and Indianapolis, local news featured images of Lime scooters smashing store windows, and Dallas a widely shared video showed a Bird scooter used as a ram against a car windshield.

A Lime spokesperson said the company was proactively removing its bikes and scooters from “selected” cities when recommended by local authorities. “Safety is our top priority and we are actively working with cities to balance this with the need for affordable transportation options,” they said.

Bird said it is also in contact with local offices in all of the cities where it operates and plans to adjust availability based on these requests.

On Sunday, cities in at least 15 states imposed curfews, and many are expected to impose similar orders throughout the week as protests continue. New York Governor Andrew Cuomo announced a curfew for the city, the world’s largest carpool, at 11 p.m. Monday. at 5:00 a.m. Lyft also operates Citibike in New York and Jersey City.

In some cases, such as Chicago and Los Angeles, public transportation has also been suspended under curfew rules, leaving night workers with few options for getting to and from work.



picture credit

MOSHED-2020-5-30-19-56-37

to request modification Contact us at Here or [email protected]

Continue Reading

Business

TILT Holdings Announces Results and Webcast Dates Canadian Stock Exchange: TILT.CN

Published

on


The fourth quarter and fiscal 2019 results will be released on Thursday, June 11.
The results for the first quarter of 2020 will be published on Tuesday June 23.

CAMBRIDGE, Mass., June 01, 2020 (GLOBE NEWSWIRE) – Announcement by TILT Holdings Inc. (TILT or society) (CSE: TILT) (OTCQB: TLLTF), a fundamental cannabis technology platform including assets to support brands worldwide it will publish the financial results for its fourth quarter and its financial year 2019, which ended on December 31, 2019, after the close of the stock market on Thursday June 11, 2020, in accordance with the exemption announced previously. The Company will host a webcast with the investment community at 5:00 p.m. Eastern time on the same day.

The company will release financial results for its first quarter 2020, which ended on March 31, 2020, after the market close on Tuesday, June 23, 2020. The company will webcast with the investment community at 5:00 p.m. from the East on the same day.

A live webcast with the ability to ask questions and view the company’s presentation will be available in the Investor Events and Presentations section of the company’s website at https://investors.tiltholdings.com/ ir-calendar. Please visit the TILT website at least 15 minutes before the start of each call to register, download and install any necessary audio software. The webcast will be archived for approximately 30 days.

About TILT

TILT Holdings serves cannabis brands around the world through a strong network of portfolio companies engaged in technological innovations that support long-term success. TILT serves more than 2,000 brands and retailers of cannabis in 33 states in the United States, as well as in Canada, Israel, Mexico, South America and the European Union. As a market leader in cannabis technology and related products and services, the main assets of the company include the wholly-owned subsidiaries Jupiter Research, LLC, a company that focuses on the vast potential of inhalation through innovative design, development and manufacturing, and Blackbird Holdings Corp. , a company that provides operational and software solutions for wholesale and retail distribution. The company also has cannabis operations in states like Massachusetts, run by Commonwealth Alternative Care, Inc .; and Pennsylvania, led by Standard Farms, LLC. Based in Cambridge, Massachusetts, with offices in the United States and London, TILT has more than 350 employees and has sales in the United States, Canada and Europe. For more information, visit www.tiltholdings.com.

Contact information:
Joel Milton
Executive Vice President of Business Development
Tel: (303) 872-7255
Email: [email protected]

Media contact:
Kaila strong
Tel: (480) 867-6090
Email: [email protected]

Forward-looking information

This press release contains forward-looking information based on current expectations. Forward-looking information is provided to present information about management’s current expectations and plans for the future, and readers are cautioned that these statements may not be appropriate for other purposes. Forward-looking information may include, but is not limited to, the timing of year-end and first quarter financial results, the timing of webcasting, management opinions or beliefs, the outlook, opportunities, priorities, targets, goals, permanent objectives, milestones, strategies and prospects for TILT, and includes statements regarding, among other things, future developments, future operations, strengths and strategy of TILT. In general, forward-looking information can be identified by the use of forward-looking terminology such as plans, plans or does not plan, is expected, budget, planned, estimates, forecasts, plans, plans or does not plan, or believes, or variations of such words and expressions or declares that certain actions, events or results may, could, could, could or will be performed, occur or be accomplished. These statements should not be interpreted as guarantees of future performance or results. These statements are based on certain important factors, assumptions and analyzes that have been applied to reach a conclusion or make a forecast or projection, including TILT’s experience and perceptions of historical trends, TILT’s ability to maximize value for shareholders, current conditions and expected future developments. , as well as other factors considered reasonable in the circumstances.

Although these statements are based on management’s reasonable assumptions as of the date of these statements, there can be no assurance that they will be fulfilled under the conditions described above and that this forward-looking information will prove to be accurate, as actual results and future. events could differ significantly from those forecast in this forward-looking information. Therefore, readers should not place undue reliance on forward-looking information. TILT assumes no responsibility for updating or revising forward-looking information to reflect new events or circumstances, unless required by applicable law.

By their nature, forward-looking information is subject to risks and uncertainties, and there are a variety of important factors, many of which are beyond the control of TILT, and which may cause actual differences between actual results and those discussed in forward-looking information. looking statements.

CSE has neither approved nor disapproved of the contents of this press release.



picture credit

MOSHED-2020-5-30-19-56-37

to request modification Contact us at Here or [email protected]

Continue Reading

Business

The casinos in downtown Saint-Louis and Saint-Charles reopen. And dedicated players return | Local company

Published

on


Denise Weiser, 65, of Alton, said that she and her friends came to Lumière even when her city’s casino, Argosy Alton, was opened. Light is his favorite place. She has called so often in the past few weeks, asking for an opening date, that “security knows my name now,” she chuckled.

A man, who gave Tony his name, said that he usually plays at the River City Casino in southern Saint Louis County, but he came to Lumiere because Saint Louis County did not authorized the reopening of River City or the Hollywood Casino at Maryland Heights. He thought that opening all the casinos at once could have spread people a little more.

The only other casino in the area that reopened on Monday was Ameristar St. Charles, the state’s largest and busiest casino. It had about 5.3 million admissions last year, more than 4.1 million and 350,000 more admissions to Lumiere than the state’s second busiest casino, River City.

After the doors opened at 11 a.m., a steady stream of people headed for the Amistar St. Charles game room. At noon, a few hundred people were on the ground.



Ameristar casino in Saint-Charles reopens

Hand disinfection stations have been set up at the Ameristar Casino in Saint-Charles, which reopened on Monday, June 1, 2020. Each person must answer the list of COVID-19 screening questions before being authorized to go to the casino and are offered a mask if he does not wear one. Photo by Hillary Levin, [email protected]


Hillary Levin


It was the first time in more than two months that Gerald Parmentier, 81, and his wife had ventured from their home in Washington, Missouri. Before it closed, they visited Ameristar several times a week.

“Everyone is wearing a mask, or almost everyone,” said Parmentier. “It’s better than going to Walmart.”



picture credit

MOSHED-2020-5-30-19-56-37

to request modification Contact us at Here or [email protected]

Continue Reading

Trending